November 12, 2025 • 36 mins
Hour 3 of A&G features...
- Bingo, Bango, Bongo
- Renting a car
- Epstein documents & the 50 year mortgage
- Large comet & science interest
Stupid Should Hurt: https://www.armstrongandgetty.com/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Broadcasting live from the Abraham Lincoln Radio Studio the George
Washington Broadcast Center. Jack Armstrong is Joe Getty arm Strong
and Jetty Enough he Armstrong and Getty.
Speaker 2 (00:23):
The Democrats, remember the Democrats, they shut down the government
last month.
Speaker 1 (00:30):
They stink caved on the shutdown.
Speaker 2 (00:34):
One of the Democrats who crumbled like a granola bar
in your backpack is New Hampshire Senator and the joker's
proud aunt, Jeans Shahan.
Speaker 3 (00:42):
Democrats drew a line in the sand. They said we
are not going over this. And today, after forty one days,
they pulled out a shovel and a bucket and they
ate all that sand and got.
Speaker 1 (00:53):
Nothing for it. Isn't that great? That is really interesting.
Speaker 2 (00:56):
I didn't watch a daily show I need to today, I
guess John Stewart just went on epic f bomb rant
and anger over the Democrats caving on the shutdown, which
it's interesting.
Speaker 1 (01:07):
On one hand, law that they wrote and passed.
Speaker 2 (01:11):
I don't know how they think the Democrats were gonna
hold out and get something. Yeah, I just don't understand
how they think they were going to win that.
Speaker 4 (01:22):
By starving the poor people and not paying the truth.
Speaker 1 (01:25):
Well, but that wasn't working, don't.
Speaker 2 (01:28):
I don't think for whatever reason, good or bad, you know,
normal people. I don't think we're reacting that much to
the whole snap benefits thing. The media was talking about it.
But the flights, Yes, that got people's attention. That's when
the shutdown became a topic for conversation, when all of
a sudden the airports were going to be crazy. Maybe
(01:50):
until Thanksgiving that became so as that grew, you think
that the pressure was going to be on the Republicans
the cave on Obamacare. Maybe, I don't think.
Speaker 4 (02:00):
I'd really like to talk to John Stewart about how
he became so ill informed or misguided on that. Gus,
he's a very bright guy. Meanwhile, I'll tell you who's
getting the blame on the left is so old Chuck Schumer.
Here's a montage.
Speaker 2 (02:13):
How much of this do you put at the feet
of Charles Schumer?
Speaker 1 (02:16):
Most of it?
Speaker 3 (02:17):
I mean, he's the leader of the Senate, but it's
time for him to be replaced.
Speaker 1 (02:21):
He is not meeting the moment.
Speaker 2 (02:23):
He's out of touch with where the party's base is.
Speaker 1 (02:26):
You know, respect his service, but time to move on.
Speaker 2 (02:29):
I think Chuck Schumer his days are over. Yes, Chuck
Schumer should go.
Speaker 1 (02:34):
I'm sorry to say Chuck Schumer should go. I voted
for many times.
Speaker 5 (02:37):
The loudest criticism here that the party couldn't keep it
together because the leader, Senator Chuck Schumer, is weak.
Speaker 2 (02:43):
If I was a Democrat, I would want Chuck Schumer
to go to just because he's old and you know,
just ain't got no vim or vigor. But what was
he supposed to do? Getting back to the same conversation
we just had. I also heard one pundit, and I
think this is probably too saying you don't tell senators
what to do. It's not like being the leader of
the House where you have some power to really force
(03:05):
House members to do this or that. And they're up
for election every two years. Every senator thinks they're going
to be president someday they got a six year term.
Speaker 1 (03:12):
You don't tell them what to do.
Speaker 2 (03:13):
You can be the messenger for them, you can get
them together and give speeches, but you don't control them.
Speaker 4 (03:19):
Right, They're designed by the Constitution to be slow, careful,
and deliberate and not be bullied anyway. So I thought,
you know, to dovetail off of that a couple of
really interesting stories I've come across about Obamacare in general,
because this fake fight was about continuing COVID air subsidies
(03:40):
that the Democrats themselves had sunseted, which is something nobody's
talking about. But quoting now from the fabulous California Globe.
And last week they've reported on the hackers, crooks and
bots who'd use stolen identities to fleece California's colleges and universities,
ripping off taxpayers for billions of dollars.
Speaker 1 (04:03):
And that report was really really interesting.
Speaker 4 (04:05):
It is literally billions and billions of dollars going to
like hackers in the Russian mob and the rest of it,
who would use bots to.
Speaker 1 (04:12):
Create nonexistent college students.
Speaker 4 (04:15):
Anyway, they Right now we learn of another Obama era
bot scam, this one in Obamacare. And this is actually
quoting the Blaze. Joe Biden's pandemic era subsidies turned Obamacare
into corporate welfare, sending billions to insurers for patients who
never file a single claim. At issue are the generous
subsidies the Biden administration created for the Affordable Care Act
policies sweeteners that are slated to expire this December. That's
(04:40):
what this fight was about, making healthcare essentially free for
millions of Americans. These policies have sent enrollment in Obamacare
plans skyrocketing, but a recent study found that they have
also sparked a curious phenomenon an estimated twelve million enrollees
twelve million without a single claim. No doctor visit, no
(05:02):
lab test, no prescription, no sprained ankle, nothing in the
entire year of twenty twenty four Obamacare expansion, creating an
explosion of phantom patients, including at least six point four
million of them found so far in twenty twenty five.
Among those new now eligible for zero premium plans with
(05:23):
lower no deductible to study found quote that number increased
nearly sevenfold. A whopping forty percent of rollees in fully
subsidized plans fully subsidized had no claims in twenty twenty four.
In twenty twenty four, a loon taxpayer send at least
thirty five billion dollars to insurers.
Speaker 1 (05:42):
They got the money for.
Speaker 4 (05:43):
People who paid no premiums and never used their plan.
And you heard that before? How have we not heard
that before?
Speaker 6 (05:51):
Yeah?
Speaker 4 (05:51):
No kidding, And they point out Katie Grimes, the fabulous
writer at the California Globe editor points out the entire
goal of Obamacare was to create a system the crashes
and burns, forcing the US into government controlled socialized medicine
correct and they're getting close to succeeding. Obama himself admitted
that beyond the scenes, we've all heard those tapes.
Speaker 1 (06:12):
I think.
Speaker 4 (06:14):
Anyway, one more semi related story that I found super interesting,
and again, you know, I'm sorry, I've got to get
to the punchline prematurely. It's impossible for a citizen to
keep track of everything this massive Labrinthian government does. How
can you be a responsible citizen and hold your government
(06:36):
to account when.
Speaker 1 (06:37):
You can't comprehend one one hundredth of what it does.
Speaker 4 (06:40):
That's why your system was designed to have limited government.
And you know that that ship has sailed moons ago. Anyway,
this is from Alicia Finley in the Wall Street Journal,
who's absolutely brilliant. Speaking of terrific women in journalism.
Speaker 1 (06:57):
Here's an example of what I'm talking about.
Speaker 4 (07:00):
Rama Manual of Chicago, Mayor of Chicago, had a three
hundred and seventy million dollar deficit in twenty thirteen. One
of the main chunks of that deficit was one hundred
and ninety five million dollars subsidizing health insurance for its retirees,
many of whom were too young to qualify for Medicare
(07:21):
because if you work in government, you get to retire
unnaturally young. That one hundred and ninety five million dollars
was projected to increase to five hundred and forty million
by two years ago. At this point, as pension payments
were ballooning. So what did Immanuel do. He dumped all
the city's retirees onto the Obama Care exchanges, where federal
(07:43):
subsidies can reduce premium payments.
Speaker 1 (07:45):
Voila. Chicago's two point.
Speaker 4 (07:47):
One billion dollar unfunded retiree health care liability vanished. Now
US taxpayers pick up the tab for Chicago's retirees.
Speaker 1 (07:56):
In their fifties and early sixties.
Speaker 4 (08:00):
Detroit, Stockton, California, San Bernardino, California, Blue cities learned that
they could offer their public employee unions unbelievable retiree healthcare plans,
and then as their deficits exploded, they dumped them onto Obamacare.
When Democrats say, we need zillions of dollars of covid era, huh,
(08:24):
subsidies to continue to Obamacare. That's why. That's one of
the big reasons why.
Speaker 2 (08:33):
But if you just are kind of an average voter
and you take in the shutdown in Obamacare through the
mainstream media.
Speaker 6 (08:40):
Was.
Speaker 2 (08:42):
Evil Republicans wanting to kick people off their healthcare just
out of meanness.
Speaker 4 (08:47):
Right right, because we want people to be sick and
stock if possible.
Speaker 1 (08:52):
I love it.
Speaker 2 (08:53):
What I like is a kid is sick and hungry. Boy,
does that help me sleep at night? Now?
Speaker 6 (08:58):
A kid who's just sick, that's good. Or kid is
just starving, that's pretty good. But by god, if we
conservatives can get both, then we just chuckle.
Speaker 1 (09:08):
They just love it.
Speaker 2 (09:10):
You show me an eight year old boy at a
sprained ankle and no food. That makes me happy.
Speaker 4 (09:14):
Oh man, you're bringing a tear to my eye real quick.
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Speaker 1 (09:25):
Easy thing to say.
Speaker 2 (09:26):
I mean, that's what Biden said the other day, it's
what Schumer's been saying, and Gavin Newsoman himself said that.
Speaker 1 (09:31):
The hunger is the point.
Speaker 2 (09:32):
I mean, you can say all you want about your
opponents and how they're They might not be as caring
as you think they ought to be, or they're misguided
to whatever. But to claim that anybody in particular really
gets a kick out of making somebody hungry, I mean
it's just nuts.
Speaker 6 (09:49):
Yeah.
Speaker 4 (09:49):
Yeah, at the risk of overusing this word today, and
I think, am it's perverse, It's I mean.
Speaker 2 (09:53):
It's so what are you talking. You're trying to portray
me as someone who I enjoy people being hungry. Yes, yeah,
I mean we have t shirts that say starve the lazy,
which I fully.
Speaker 1 (10:05):
Back as a theory.
Speaker 2 (10:07):
But the idea is get off your ass and work,
not I want you to starve to death.
Speaker 1 (10:13):
Yeah.
Speaker 4 (10:13):
What about sick children, Well, if they're a sick child,
they're not within the group of the lazy obviously. EMO
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Speaker 1 (11:29):
Hurrah. So final note on this topic. Few you know.
Speaker 4 (11:37):
Public employees in a lot of places can retire in
their fifties or early sixties. They get really nice pensions,
some of whom they've kicked into those pensions to share
the cost, but subsidized health insurance until they become eligible
for Medicare, but governments, few of them have actually set
aside realistic commounts, some money for their retire's future healthcare costs.
(11:57):
The Reason Foundation does great work, reports that state and
local governments face almost a trillion dollars in retiree medical
obligations in twenty twenty three. That's about three thousand dollars
per American citizen. They've got that giant liability liabilities are
the largest in Blue states. New York is fifteen thousand
(12:19):
dollars per capita in essentially unfunded liabilities. New Jersey it's
almost eleven thousand, Connecticut it's about seven thousand, which lets
workers retire early with generous health benefits. And then then,
and you will see this, when those systems collapse or
get near bankruptcy or whatever, they are bailed out by
the state government or the federal government or whatever, meaning taxpayers,
(12:42):
it's outrageous. Sorry to bring you down or piss you off,
but I don't know, I personally don't like being defrauded,
or at least I like to know I'm being defrauded.
Speaker 2 (12:52):
So we're headed into a holiday season and a decent
chance you're going to be traveling around maybe rent a vehicle.
I learned something about renting vehicles last night. It's a
problem I've had in the past, but apparently, at least
according to the research I've done, there's.
Speaker 1 (13:04):
Not a lot you can do about it.
Speaker 2 (13:06):
I am not a fan of rental car companies, and
a lot of other stuff to talk about. Stay with us,
arm Straw, Hey Getty.
Speaker 7 (13:15):
Many worry the AI revolution will put voice actors out
of work. While some stars are licensing their voices, others
are being built from scratch. Poet Talisia Nicki Jones has
created an AI R and B singer named Zanaia Monet,
a digital alter ego that lets her turn her poetry
into music. Now, Zanaya has a number one single on
a Billboard R and B chart and a multimillion dollar.
Speaker 1 (13:37):
Offer for a recording deal, and on the country charts.
Speaker 7 (13:40):
An AI generated country singer named Breaking Rust just hit
number one.
Speaker 1 (13:45):
Yeah, we talked about that yesterday.
Speaker 2 (13:47):
We can't play the song for copyright reasons, but Joe
and I both listened to it and then it sits.
You know, it's plenty good enough to be a hit
country song, which it is completely AI. I don't know
where the leaves us the whole voice. Actors might lose
their gigs.
Speaker 1 (14:04):
Yeah, yeah, oh that's over. Please. Yeah. I can't believe
it's even still presented as a this might happen.
Speaker 2 (14:17):
What'll we do? It's going to happen, not might, and nothing.
There's nothing you could do it.
Speaker 4 (14:23):
Yeah, pursue another line of work. And I don't mean
to sound cruel or unsympathetic, but when reality backs into
your driveway, there it is. I mean, you can try
to ignore it, wish it away.
Speaker 1 (14:38):
It really is.
Speaker 2 (14:39):
Being a guy who sells horses for transportation in nineteen
ten or whatever and sing. Some people say fewer people
are going to want to buy horses for transportation.
Speaker 1 (14:48):
Yes, yes, this is true. What going to be done
about it?
Speaker 2 (14:52):
Nothing? Our mode of transportation has changed, the airing to
fix cars. I don't know if that's hard for people
to grasp or what. Yeah, making of driving, we're into
the holiday season. I often a rent a vehicle this
time of year, usually because I do a one way
trip back to Kansas and then I drive there. We
(15:13):
like road trips, me and the boys, and then I
fly back. I've had quite the struggle in recent years
of I rent a vehicle ahead of time, make sure
I've rent good and ahead of time. And then I
get there to pick it up and they ain't got it.
And then I'm in the holiday crunch with all kinds
of plans and no vehicles available because it's like two
(15:35):
days before Thanksgiving or week before Christmas or whatever.
Speaker 1 (15:38):
The situation.
Speaker 2 (15:39):
Not the wrong vehicle, no vehicle, Well, they don't have
the vehicle I want.
Speaker 1 (15:43):
They have all kinds of vehicles.
Speaker 2 (15:44):
I'm not going to drive me intwo like practically adults
halfway across the country and right, and you.
Speaker 1 (15:51):
Just can't do it.
Speaker 2 (15:52):
So I was asked, I did some research yesterday because
I was trying to avoid that this year. I got
so mad last year when I was there. You remember
I told this story on the air. I started very calm,
but I couldn't get any reaction out of the person
who worked there. And it kind of hurts that they
reacted this way. It really hurts my feelings that they
were was the way that we were thinking. But I
kept saying, do you understand my problem?
Speaker 7 (16:13):
Though?
Speaker 1 (16:13):
Right? I have a reservation.
Speaker 2 (16:15):
I mean it's the classic Jerry Seinfeld bit. You know
how to you know, reserve the car and they just
like looked at me blank face, like they couldn't understand
why I was unhappy with the fact that I'd had
a reservation for a month and then I get there
and you don't have the vehicle.
Speaker 1 (16:34):
You don't see that as a problem anyway.
Speaker 2 (16:36):
So I spend a lot of time researching this on
groc and chat, bet, chat, GPT, and they want all
the different websites, and they basically said, this is a
problem that happens to people all across the country. There's
not much you can do about it. Here are the things.
You should rent vehicles from two different companies. Hopefully if
you have a backup then one of them will come through,
or you know, a variety of other things.
Speaker 1 (16:55):
But there was no there's no getting around it.
Speaker 2 (16:57):
It's just the thing that happens the way our way
the businesses are currently set up. They just like airlines,
they overbook flights. They over sell cars with the idea
of a we want to have as many of them
get paid for during the holiday season as possible, So
we overbook knowing that a lot of people are going
to cancel and change plans. And then if it turns
out that a whole bunch of people don't change their plans. Well,
(17:20):
we've got more people wanting these vehicles than the vehicles
that exist.
Speaker 1 (17:23):
So sorry, screw you. You're out of luck.
Speaker 4 (17:26):
You're not going home for Christmas or whatever the problem is.
And I'm sure they all glance around at each other.
It's not collusion, but they're aware. Okay, they're abusing people
in the same way over there and over there and
over there. Okay, so we can keep abusing people. Where
are you going to go to the other place there
at the airport that's going to abuse you in the
same way.
Speaker 2 (17:42):
Right, And that's something that that's the current system where
it doesn't matter how early you make your reservation, you
still might show up there when you need it. If
it's a busy weekend and they just ain't going to
have a car for.
Speaker 4 (17:51):
You, oh well you put the rental agent in a headlock.
Not sure it would help, but it would make you
feel better. I was close, I was really close. My
son didn't test to that. They were thinking, I don't care,
pretending I'm an hourly employee.
Speaker 1 (18:07):
I don't care. It's not much effort to pretend to care.
Speaker 2 (18:10):
Okay, we got more on the way if you know
anything about that text line four one five five KFTC.
Speaker 1 (18:16):
Armstrong and Getty Christ, then when did you get this information?
Speaker 5 (18:22):
We actually just received all of these emails are total
of about twenty three thousand documents actually a few days ago,
so last week, and we've been going through our team,
of course, through all of these very carefully over the
last few days.
Speaker 1 (18:34):
We obviously released some today.
Speaker 5 (18:36):
We'll be releasing additional documents I'm likely later today.
Speaker 2 (18:40):
Okay, we're talking about Epstein here. Oh so forty eight
hours ago when the whole impasse over the shutdown thing broke,
I flip on MSNBC at night. They're eleven o'clock show,
because on the West Coast as to a eight o'clock
and the first thing they talk about is Epstein. I thought,
(19:03):
what I mean, that was so off my radar. I
don't know if I thought I'd ever hear the word
again in my life. I just thought that was completely
last year whatever. And they were actually talking about them,
and the three panelists on there all reporters Epstein, this Epstein,
that this is why the Republicans shut down the government
for so long, and now the Epstein vote's gone.
Speaker 1 (19:24):
What Epstein.
Speaker 2 (19:26):
I turned on Morning Joe this morning on MSNBC. I mean,
because that's a good place to go to for what
Democrats are thinking, that show talking about Epstein. And now
you got this Democratic Representative Robert Garcia, who was on
probably on MSNBC saying they've received twenty three thousand documents
(19:47):
in the last couple of days and they're going through
there very carefully.
Speaker 1 (19:52):
He says there is a massive cover up going on.
Speaker 2 (20:00):
So as Byron York writes in the Washington Examiner, Okay,
you've given us a couple of nuggets, which weren't much
from these documents. Like Trump was angry that Epstein was
poaching his people, poaching girls from his spa. That wasn't
new news. And even if even if it were, what's
(20:20):
the significance of that?
Speaker 1 (20:22):
There is an email quote from Epstein, go ahead, you've
got the lift.
Speaker 2 (20:25):
There's well, there's a claim that Epstein knew that there
were girls there and whatever Trump but butru that Trump knew,
But it's vague and it doesn't even if it's true,
what what does that was Trumps supposed to go to
the cops or I don't know what even the point
is of that, and as Byron new York writes Washington Examiner, Okay,
(20:47):
that's three things you've mentioned. What are the other twenty
three thousand documents? That's a lot of documents, right, That's
a heck of a thing to.
Speaker 1 (20:57):
Go on TV.
Speaker 2 (20:57):
Say we have twenty three thousand new documents about what?
Speaker 1 (21:04):
From who? What is it? A? Two are completely irrelevant?
Speaker 4 (21:09):
Where to look at them? Twenty three thousands? Look at
the stack of documents? Where did they come from? If
you had any dirt on Trump about Epstein, you would
have used it when Joe Biden and Kamala Harris were
running against him, wouldn't you. Well, where'd they get these
twenty three thousand new documents?
Speaker 1 (21:26):
Doesn't say? What's that all about? Don't know?
Speaker 2 (21:28):
But so if you thought Epstein was over, it ain't.
Speaker 1 (21:33):
Well. I tell you what.
Speaker 4 (21:33):
If they get to the bottom of this Epstein thing,
holmes will become affordable, You will be fully employed in
a career that you find rewarding, Your kids will get
quality education in schools, and we won't ever go to
war with China. So I certainly hope we can get
to the bottom of this stupid, stupid Epstein thing.
Speaker 2 (21:51):
We'll be releasing additional documents later Today, he says, if
my experience with this sort of thing in life is
you lead with your.
Speaker 1 (21:59):
Best stuff, right. Yeah. Well, and if say, fifteen eighteen.
Speaker 4 (22:06):
Years ago, rich Donald Trump in West Palm Beach or
whatever it is, became aware that his rich neighbor was
a bit of a perv and maybe even had a
taste for like underage girls, that's what I hear.
Speaker 1 (22:22):
What was twenty twelve Donald Trump's supposed to do about it?
That's what I said.
Speaker 4 (22:28):
I mean, if there was like child rape going on
and he had specific information about it, of course you
got to call.
Speaker 1 (22:33):
The co of course.
Speaker 4 (22:35):
But if he just hears at the country club, oh yeah,
you know Epstein like I'm young, if you know what
I mean?
Speaker 2 (22:41):
Yeah, what are you supposed to do in that situation?
And well, there's always kind of the suggestion that Donald
Trump was having sex with underage girls through his connection
with Epstein. There's never been anything without one hundred miles
of that, yeah, proven even kind of So I don't know,
(23:02):
I can't believe this is still hanging around as a story,
different Donald Trump story that I am kind of interested.
Speaker 4 (23:06):
Well, if I had just screwed the country at least
to some extent on this phony shutdown to protect Chuck
Schumer's left flank. I'd want to change the headlines too.
I'd be pretty desperate. That's pretty good theory that that's
what it is. Why now all of a sudden out
of nowhere, please, I never heard that said one time
(23:31):
during the shutdown? Did you that the Republicans are just
doing this to keep the Ebstein files from coming out?
Speaker 2 (23:36):
I never heard that until the Democrats caved. I'd never
heard anybody say that. Yeah, yeah, And I'll watch a
lot of MSNBC to see what they're up to. They
weren't making that argument.
Speaker 1 (23:48):
We're desperate, we're desperate. What do we do? I don't know,
can retire Depstein somehow?
Speaker 2 (23:52):
How the hell would we do that?
Speaker 1 (23:53):
Wait? I have an idea differ Trump thing. He did
an interview with blonde Chick Fox. There are quite a
few of them.
Speaker 2 (24:03):
Well, that was a vague statement, wasn't a blonde chick
on Fox? Lor Ingram And we had a bunch of
clips we didn't play yesterday. But one of the things
he floated out there was a fifty year mortgage loan
to try to help get more people into homes. This
stat has been flying around for a week now because
it hit forty. People like round numbers, and when it
(24:24):
hit forty for the median age for someone to be
a first time home buyer, it got a lot of
people's attention, given the fact that it was twenty nine.
If you go back to nineteen eighty, so in your
twenties barely and now forty is sounds like a bigger
difference in eleven years, but it's still it is quite
(24:45):
a change in the structure of home buying. And Trump
floated the idea of a fifty year mortgage. So my
first reaction to hearing that was that's a horrible idea,
and God, I hope it doesn't happen, kind of like
around the lines of I know people buying cars with seven, eight,
nine year loans, the biggest difference between the two things
(25:08):
being that in general, homes go up in value over
that amount of time and cars nine years from now
you're curring word.
Speaker 1 (25:14):
Nothing and you just paid it off.
Speaker 2 (25:16):
But I don't know anything about the history of where
did we come up with the twenty and thirty year mortgage?
What was that built around? Why is there any reason
why thirty's okay, but fifty isn't.
Speaker 4 (25:30):
Yeah, Well, the twenty eight housing melt down spurred the
government to limit mortgage terms to thirty years, because you
just you get equity so slowly, you pay so much
in interest more than a thirty year loan, and it
lowers your payment by a couple of hundred bucks typically,
(25:51):
but it's not a ton. And so many folks walked
away from their mortgages when home prices collapsed, and they've
just found through the years the reason they reined it
in is longer the loan, the more likely people are default.
It's just a much risky loan, which means it's a
higher rate, so you're paying even a higher percentage of
(26:12):
your house payment to interest than you would be. When
the solution is that's not the solution. That is a
makes the problem worse, band A. The solution is a deregulation,
wholesale deregulation of this silly stuff that keeps housing from
being built. Who was it estimated We've got a deficit
of like five million housing units in the country at
(26:34):
this point, and part of it was the artificially low
mortgage rates. People are stuck in their homes.
Speaker 1 (26:40):
Blah blah blah. We've talked about it many times, but no,
this is a bad idea. Don't do it. Well.
Speaker 2 (26:44):
The idea, well, the smart idea would be, you can
get into a home when you're quite young because the
payment's lower with a fifty year mortgage, and then when
you get into your years where you're really earning money, well,
then you refy it shorter, pay it down or whatever.
You don't actually pay the full fifty years van of
interest over the damn fom.
Speaker 1 (27:06):
Yeah.
Speaker 2 (27:07):
Yeah, but if it's much more likely people are going
to default who take those long loans.
Speaker 1 (27:12):
Though, any good listen to this, would you? As long
as we're talking about it.
Speaker 4 (27:16):
Nearly seventy percent of New FAHA borrowers last year had
debt to income ratios exceeding forty three percent, which is
considered risky. That's nearly seventy percent. You twenty with that number. Well,
that's up from twenty eight percent thirteen years ago. It's
now seventy percent. About forty percent a new Fanny May
(27:37):
and Freddie macburrows last year had risky debt to income ratios.
That's forty percent compared to sixteen percent back in twenty twelve.
Recent buyers are more leveraged than they were in bubble days.
Stretched by inflation, rising property taxes, and insurance costs, many
have been struggling to meet mortgage payments. No Worries, writes
the Journal. The Biden administration paid mortgage servicers to prevent closures.
(28:00):
This included letting delinquent borrowers extend their loan terms to
forty years and reduced monthly payments by twenty five percent.
Repeatedly miss your mortgage payments, Congratulations, you qualify for mortgage relief.
Talk about a moral hazard. The FAHA has paid mortgage
servicers to provide forbearance or modify some six hundred and
ten thousand FAHA mortgages in the last year.
Speaker 1 (28:21):
Well.
Speaker 2 (28:21):
I like the fact that's more than the number of
new purchases loans that FAHA ensured last year.
Speaker 1 (28:29):
Yikes.
Speaker 2 (28:29):
I like the fact that if you miss your mortgage
payment enough times, you qualify for somebody else's money to
pay for your mortgage, with no question as to why
are you not making your mortgage, what do you spend?
You spend your money on anything else? Or maybe you
shouldn't be in that, Maybe you can't afford to be
in the house you're in or something like that.
Speaker 1 (28:49):
But no, you automatically.
Speaker 2 (28:51):
It's just the facto true that if you missed a
couple of payments, you can't afford it and you need help.
Speaker 4 (28:57):
And keep in mind, now the FAHA your tax finances
all of this. So writing down mortgages for distress borrowers
is a booming business for mortgage bankers. They're getting the
tax dollars, but keeping people in homes they can't afford
means there are fewer available to buy, which makes housing
less affordable for everyone else. That's what a fifty year
mortgage will do.
Speaker 2 (29:19):
I was listening to a discussion this morning by people
who did not know what they were talking about. I
won't mention much channel, but they were talking about. They
were presenting it's such a good idea, the fifty year loan,
so you can get people out of renting, so.
Speaker 1 (29:32):
You don't rent all those years and everything like that when.
Speaker 2 (29:36):
I'm a renter currently, and what started me even thinking
about it was the Wall Street Journal having an article
that for the first time ever, there might be a
better idea to rent than to own, and it laid
out various situations you might be in where that that's
the case. It's just not automatically true, at least currently,
that buying a house is better than renting correct.
Speaker 4 (29:55):
Yeah, yeah, and it's far more expensive than people imagine
it's going to be. I think virtually everybody listening who's
ever owned a home is saying, yeah, no kidding. You know,
by the time you know, taxes and insurance and upkeeping
repairs and you know, just maintenance. I guess upkeeping maintenance
are the same thing. Anyway, there are way more costs
than you imagined before you become a homeowner.
Speaker 2 (30:18):
Yeah, where if that'll change? Fifty year loan? Wow, I
wouldn't you be surprised if that doesn't happen. I mean,
if we got to nine year car loans out there,
fifty year my home loan doesn't seem that nuts.
Speaker 4 (30:37):
If it is a bad idea that sounds good when
you first hear it, yes, it will pass.
Speaker 2 (30:42):
It will become the law, right right right, Anything that
sounds good at first, blush will happen.
Speaker 1 (30:48):
That's okay, give exactly.
Speaker 2 (30:51):
We'll keep your eye on this stupid, stupid, freaking Epstein
story and maybe not talk about it at all. Unless
something happens more on the way stare. I want to
talk about the decay of American culture, which has been
going on for half a century. Might put that in
a one More Thing podcast, also our four. I am
(31:13):
pro social credit score as long as the government's not involved.
Speaker 1 (31:17):
Interesting, I got a new example of it. We can
talk about next hour. Interesting.
Speaker 4 (31:23):
I'm surprised to hear that also coming up next hour.
The whole online influencer pandering thing. It's worse than I thought.
Understanding how it works helps you understand well why it
got so bad. So if you can't stay tuned for
our four, or perhaps you don't get our four, grab
it via podcast Armstrong and Getty on demand. You really
ought to follow us and subscribe. And oh you know,
(31:44):
we never ever asked this. Give us a nice five
star review, would you please? It helps the algorithms kind
of push the show. Speaking of algorithms, anyway, I've fallen
in love with a man, at least intellectually speaking.
Speaker 1 (31:57):
I was attracted to this.
Speaker 4 (31:58):
Story about Abraham Avy is his nickname av Lobe, who
is was for a decade Harvard's share of the Astronomy Department.
He was the founding director of the Harvard Black Hole Initiative,
and he continues to teach it to school and holds
(32:18):
amazing titles in you know, the theory and computation in
astrophysics and stuff like that. And he's his attention has
gotten to a space oddity called three Eye Slash Atlas.
It is only the third object from outside our Solar
(32:39):
system that humanity has ever detected, and the vast majority
of astronomers are convinced that it's simply a large comet
that poses no threat to Earth.
Speaker 1 (32:47):
Lobe.
Speaker 4 (32:48):
However, is unconvinced by this explanation. He has laid out
all the ways Atlas is not behaving like a comet.
It has a very unusual trajectory which happens to be
a perfect tour of our nearby planets. It has very
strange coloring, and the way it appears to move, it
moves like it has an internal engine of some kind.
Speaker 2 (33:11):
You're suggesting spaceship from an alien planet.
Speaker 4 (33:17):
So the clear mister Loebees said is not saying this
is an extraterrestrial vehicle. He is, however, open to the
possibility that it could be. So he's tracking Atlas very
closely on his blog and looking at images every day.
Speaker 1 (33:31):
Blah blah blah.
Speaker 4 (33:33):
So that's fun. Is there an alien craft that's moving
in our direction? Harvard astronomy professor says, perhaps that's fun.
I got to say, But then I get to the
part that I really loved. The guy asks him, can
you explain this? Think of me as a precocious middle schooler,
because I'm not an expert, And his reply is one
of the best things I've ever read. He said, actually,
(33:55):
being young in the way you view things as a
great advantage, because science is the privilege of maintaining your
childhood curiosity.
Speaker 1 (34:02):
Ah.
Speaker 4 (34:04):
Now, unfortunately, he says, most practitioners abandon it because they
have other motivations. They want to show off to gain
status that helps them get funded or get awards and honors.
And that's what you know, That's what happens to most
people in academia, which is very unfortunate because we have this.
Speaker 1 (34:20):
Gift of being paid to stay curious.
Speaker 4 (34:23):
And he goes on about what a wonderful gift that
was and how it makes him sad when people insist that.
Speaker 6 (34:31):
Science is fixed. This is what science says, and you
shouldn't question it.
Speaker 4 (34:36):
He's totally against that it was beautifully said.
Speaker 2 (34:41):
Yeah, I love it when you hear super smart people
say very basic, childlike things.
Speaker 1 (34:47):
Yeah like that.
Speaker 2 (34:48):
It's like the Fermi paradox or Fermi principle or whatever
it's called from that famous astrophysicist dude from way back
in the day who said, well where is everybody?
Speaker 6 (34:58):
Then?
Speaker 2 (34:59):
If there's a and other planets or life in other
parts of the universe, or where has everybody been?
Speaker 1 (35:04):
So how come nobody's ever contacted?
Speaker 4 (35:06):
Is?
Speaker 1 (35:07):
Yeah?
Speaker 4 (35:08):
Yeah, I love that though. And look, I was not
going for outrage this segment, But how different is that
from I represent science and people getting canceled online for
questioning quote unquote science.
Speaker 1 (35:21):
Love this guy's attitude.
Speaker 2 (35:24):
I do want to talk about the social credit score,
this idea that some people are bothered by this.
Speaker 1 (35:28):
I think it's awesome.
Speaker 2 (35:29):
Like open table, if you've ever used that for making
reservations for a restaurant or something like that is keeping
track of people who like don't show or show up later, whatever,
and then they're putting a score on that, and then
restaurants see that, and then they're either more or less
likely to give you a reservation based on that.
Speaker 1 (35:47):
I have no problem with that. Whatsoever.
Speaker 2 (35:49):
It's kind of like the best buy Costco. Oh, you're
the kind of person that buys something in the returns
it like two times a year versus you've never done
that before, so sure we'll let you return something for
your money back.
Speaker 4 (36:01):
Airbnb is super big on everybody gets a review and
providers as long as.
Speaker 2 (36:07):
The government's not involved in any way, like they're doing
in China. I think the social credit score thing seems
like a really good idea, interesting and I don't know
how you'd stop a private company from doing it anyway,
it's in their best interest.
Speaker 1 (36:18):
Yeah, yeah, that's a good discussion. Anyway. We do a
lot of hours.
Speaker 2 (36:22):
If you miss one, get the podcast Armstrong and Getty
on demand.
Speaker 6 (36:25):
You should subscribe Armstrong and Getty
Broadcasting live from the Abraham Lincoln Radio Studio the George
Washington Broadcast Center. Jack Armstrong is Joe Getty arm Strong
and Jetty Enough he Armstrong and Getty.
Speaker 2 (00:23):
The Democrats, remember the Democrats, they shut down the government
last month.
Speaker 1 (00:30):
They stink caved on the shutdown.
Speaker 2 (00:34):
One of the Democrats who crumbled like a granola bar
in your backpack is New Hampshire Senator and the joker's
proud aunt, Jeans Shahan.
Speaker 3 (00:42):
Democrats drew a line in the sand. They said we
are not going over this. And today, after forty one days,
they pulled out a shovel and a bucket and they
ate all that sand and got.
Speaker 1 (00:53):
Nothing for it. Isn't that great? That is really interesting.
Speaker 2 (00:56):
I didn't watch a daily show I need to today, I
guess John Stewart just went on epic f bomb rant
and anger over the Democrats caving on the shutdown, which
it's interesting.
Speaker 1 (01:07):
On one hand, law that they wrote and passed.
Speaker 2 (01:11):
I don't know how they think the Democrats were gonna
hold out and get something. Yeah, I just don't understand
how they think they were going to win that.
Speaker 4 (01:22):
By starving the poor people and not paying the truth.
Speaker 1 (01:25):
Well, but that wasn't working, don't.
Speaker 2 (01:28):
I don't think for whatever reason, good or bad, you know,
normal people. I don't think we're reacting that much to
the whole snap benefits thing. The media was talking about it.
But the flights, Yes, that got people's attention. That's when
the shutdown became a topic for conversation, when all of
a sudden the airports were going to be crazy. Maybe
(01:50):
until Thanksgiving that became so as that grew, you think
that the pressure was going to be on the Republicans
the cave on Obamacare. Maybe, I don't think.
Speaker 4 (02:00):
I'd really like to talk to John Stewart about how
he became so ill informed or misguided on that. Gus,
he's a very bright guy. Meanwhile, I'll tell you who's
getting the blame on the left is so old Chuck Schumer.
Here's a montage.
Speaker 2 (02:13):
How much of this do you put at the feet
of Charles Schumer?
Speaker 1 (02:16):
Most of it?
Speaker 3 (02:17):
I mean, he's the leader of the Senate, but it's
time for him to be replaced.
Speaker 1 (02:21):
He is not meeting the moment.
Speaker 2 (02:23):
He's out of touch with where the party's base is.
Speaker 1 (02:26):
You know, respect his service, but time to move on.
Speaker 2 (02:29):
I think Chuck Schumer his days are over. Yes, Chuck
Schumer should go.
Speaker 1 (02:34):
I'm sorry to say Chuck Schumer should go. I voted
for many times.
Speaker 5 (02:37):
The loudest criticism here that the party couldn't keep it
together because the leader, Senator Chuck Schumer, is weak.
Speaker 2 (02:43):
If I was a Democrat, I would want Chuck Schumer
to go to just because he's old and you know,
just ain't got no vim or vigor. But what was
he supposed to do? Getting back to the same conversation
we just had. I also heard one pundit, and I
think this is probably too saying you don't tell senators
what to do. It's not like being the leader of
the House where you have some power to really force
(03:05):
House members to do this or that. And they're up
for election every two years. Every senator thinks they're going
to be president someday they got a six year term.
Speaker 1 (03:12):
You don't tell them what to do.
Speaker 2 (03:13):
You can be the messenger for them, you can get
them together and give speeches, but you don't control them.
Speaker 4 (03:19):
Right, They're designed by the Constitution to be slow, careful,
and deliberate and not be bullied anyway. So I thought,
you know, to dovetail off of that a couple of
really interesting stories I've come across about Obamacare in general,
because this fake fight was about continuing COVID air subsidies
(03:40):
that the Democrats themselves had sunseted, which is something nobody's
talking about. But quoting now from the fabulous California Globe.
And last week they've reported on the hackers, crooks and
bots who'd use stolen identities to fleece California's colleges and universities,
ripping off taxpayers for billions of dollars.
Speaker 1 (04:03):
And that report was really really interesting.
Speaker 4 (04:05):
It is literally billions and billions of dollars going to
like hackers in the Russian mob and the rest of it,
who would use bots to.
Speaker 1 (04:12):
Create nonexistent college students.
Speaker 4 (04:15):
Anyway, they Right now we learn of another Obama era
bot scam, this one in Obamacare. And this is actually
quoting the Blaze. Joe Biden's pandemic era subsidies turned Obamacare
into corporate welfare, sending billions to insurers for patients who
never file a single claim. At issue are the generous
subsidies the Biden administration created for the Affordable Care Act
policies sweeteners that are slated to expire this December. That's
(04:40):
what this fight was about, making healthcare essentially free for
millions of Americans. These policies have sent enrollment in Obamacare
plans skyrocketing, but a recent study found that they have
also sparked a curious phenomenon an estimated twelve million enrollees
twelve million without a single claim. No doctor visit, no
(05:02):
lab test, no prescription, no sprained ankle, nothing in the
entire year of twenty twenty four Obamacare expansion, creating an
explosion of phantom patients, including at least six point four
million of them found so far in twenty twenty five.
Among those new now eligible for zero premium plans with
(05:23):
lower no deductible to study found quote that number increased
nearly sevenfold. A whopping forty percent of rollees in fully
subsidized plans fully subsidized had no claims in twenty twenty four.
In twenty twenty four, a loon taxpayer send at least
thirty five billion dollars to insurers.
Speaker 1 (05:42):
They got the money for.
Speaker 4 (05:43):
People who paid no premiums and never used their plan.
And you heard that before? How have we not heard
that before?
Speaker 6 (05:51):
Yeah?
Speaker 4 (05:51):
No kidding, And they point out Katie Grimes, the fabulous
writer at the California Globe editor points out the entire
goal of Obamacare was to create a system the crashes
and burns, forcing the US into government controlled socialized medicine
correct and they're getting close to succeeding. Obama himself admitted
that beyond the scenes, we've all heard those tapes.
Speaker 1 (06:12):
I think.
Speaker 4 (06:14):
Anyway, one more semi related story that I found super interesting,
and again, you know, I'm sorry, I've got to get
to the punchline prematurely. It's impossible for a citizen to
keep track of everything this massive Labrinthian government does. How
can you be a responsible citizen and hold your government
(06:36):
to account when.
Speaker 1 (06:37):
You can't comprehend one one hundredth of what it does.
Speaker 4 (06:40):
That's why your system was designed to have limited government.
And you know that that ship has sailed moons ago. Anyway,
this is from Alicia Finley in the Wall Street Journal,
who's absolutely brilliant. Speaking of terrific women in journalism.
Speaker 1 (06:57):
Here's an example of what I'm talking about.
Speaker 4 (07:00):
Rama Manual of Chicago, Mayor of Chicago, had a three
hundred and seventy million dollar deficit in twenty thirteen. One
of the main chunks of that deficit was one hundred
and ninety five million dollars subsidizing health insurance for its retirees,
many of whom were too young to qualify for Medicare
(07:21):
because if you work in government, you get to retire
unnaturally young. That one hundred and ninety five million dollars
was projected to increase to five hundred and forty million
by two years ago. At this point, as pension payments
were ballooning. So what did Immanuel do. He dumped all
the city's retirees onto the Obama Care exchanges, where federal
(07:43):
subsidies can reduce premium payments.
Speaker 1 (07:45):
Voila. Chicago's two point.
Speaker 4 (07:47):
One billion dollar unfunded retiree health care liability vanished. Now
US taxpayers pick up the tab for Chicago's retirees.
Speaker 1 (07:56):
In their fifties and early sixties.
Speaker 4 (08:00):
Detroit, Stockton, California, San Bernardino, California, Blue cities learned that
they could offer their public employee unions unbelievable retiree healthcare plans,
and then as their deficits exploded, they dumped them onto Obamacare.
When Democrats say, we need zillions of dollars of covid era, huh,
(08:24):
subsidies to continue to Obamacare. That's why. That's one of
the big reasons why.
Speaker 2 (08:33):
But if you just are kind of an average voter
and you take in the shutdown in Obamacare through the
mainstream media.
Speaker 6 (08:40):
Was.
Speaker 2 (08:42):
Evil Republicans wanting to kick people off their healthcare just
out of meanness.
Speaker 4 (08:47):
Right right, because we want people to be sick and
stock if possible.
Speaker 1 (08:52):
I love it.
Speaker 2 (08:53):
What I like is a kid is sick and hungry. Boy,
does that help me sleep at night? Now?
Speaker 6 (08:58):
A kid who's just sick, that's good. Or kid is
just starving, that's pretty good. But by god, if we
conservatives can get both, then we just chuckle.
Speaker 1 (09:08):
They just love it.
Speaker 2 (09:10):
You show me an eight year old boy at a
sprained ankle and no food. That makes me happy.
Speaker 4 (09:14):
Oh man, you're bringing a tear to my eye real quick.
I've got another couple of statistics for you. But afterward,
from our friends, it simply save home security.
Speaker 1 (09:25):
Easy thing to say.
Speaker 2 (09:26):
I mean, that's what Biden said the other day, it's
what Schumer's been saying, and Gavin Newsoman himself said that.
Speaker 1 (09:31):
The hunger is the point.
Speaker 2 (09:32):
I mean, you can say all you want about your
opponents and how they're They might not be as caring
as you think they ought to be, or they're misguided
to whatever. But to claim that anybody in particular really
gets a kick out of making somebody hungry, I mean
it's just nuts.
Speaker 6 (09:49):
Yeah.
Speaker 4 (09:49):
Yeah, at the risk of overusing this word today, and
I think, am it's perverse, It's I mean.
Speaker 2 (09:53):
It's so what are you talking. You're trying to portray
me as someone who I enjoy people being hungry. Yes, yeah,
I mean we have t shirts that say starve the lazy,
which I fully.
Speaker 1 (10:05):
Back as a theory.
Speaker 2 (10:07):
But the idea is get off your ass and work,
not I want you to starve to death.
Speaker 1 (10:13):
Yeah.
Speaker 4 (10:13):
What about sick children, Well, if they're a sick child,
they're not within the group of the lazy obviously. EMO
Ron's all right. Quick word from our friends is simply
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(10:37):
and then live human agents who can talk to these
scumbag and dissuade them before they break your window.
Speaker 2 (10:47):
Yeah. Other security systems have outdoor cameras too, but they
rely on you getting me alert and taking action yourself.
Simply Safe does that for you. It's like having a
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(11:07):
so why not try it?
Speaker 1 (11:09):
Yeah, this is the sort of.
Speaker 4 (11:09):
Thing that ought to demand a multiyear contract because it's
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Speaker 1 (11:29):
Hurrah. So final note on this topic. Few you know.
Speaker 4 (11:37):
Public employees in a lot of places can retire in
their fifties or early sixties. They get really nice pensions,
some of whom they've kicked into those pensions to share
the cost, but subsidized health insurance until they become eligible
for Medicare, but governments, few of them have actually set
aside realistic commounts, some money for their retire's future healthcare costs.
(11:57):
The Reason Foundation does great work, reports that state and
local governments face almost a trillion dollars in retiree medical
obligations in twenty twenty three. That's about three thousand dollars
per American citizen. They've got that giant liability liabilities are
the largest in Blue states. New York is fifteen thousand
(12:19):
dollars per capita in essentially unfunded liabilities. New Jersey it's
almost eleven thousand, Connecticut it's about seven thousand, which lets
workers retire early with generous health benefits. And then then,
and you will see this, when those systems collapse or
get near bankruptcy or whatever, they are bailed out by
the state government or the federal government or whatever, meaning taxpayers,
(12:42):
it's outrageous. Sorry to bring you down or piss you off,
but I don't know, I personally don't like being defrauded,
or at least I like to know I'm being defrauded.
Speaker 2 (12:52):
So we're headed into a holiday season and a decent
chance you're going to be traveling around maybe rent a vehicle.
I learned something about renting vehicles last night. It's a
problem I've had in the past, but apparently, at least
according to the research I've done, there's.
Speaker 1 (13:04):
Not a lot you can do about it.
Speaker 2 (13:06):
I am not a fan of rental car companies, and
a lot of other stuff to talk about. Stay with us,
arm Straw, Hey Getty.
Speaker 7 (13:15):
Many worry the AI revolution will put voice actors out
of work. While some stars are licensing their voices, others
are being built from scratch. Poet Talisia Nicki Jones has
created an AI R and B singer named Zanaia Monet,
a digital alter ego that lets her turn her poetry
into music. Now, Zanaya has a number one single on
a Billboard R and B chart and a multimillion dollar.
Speaker 1 (13:37):
Offer for a recording deal, and on the country charts.
Speaker 7 (13:40):
An AI generated country singer named Breaking Rust just hit
number one.
Speaker 1 (13:45):
Yeah, we talked about that yesterday.
Speaker 2 (13:47):
We can't play the song for copyright reasons, but Joe
and I both listened to it and then it sits.
You know, it's plenty good enough to be a hit
country song, which it is completely AI. I don't know
where the leaves us the whole voice. Actors might lose
their gigs.
Speaker 1 (14:04):
Yeah, yeah, oh that's over. Please. Yeah. I can't believe
it's even still presented as a this might happen.
Speaker 2 (14:17):
What'll we do? It's going to happen, not might, and nothing.
There's nothing you could do it.
Speaker 4 (14:23):
Yeah, pursue another line of work. And I don't mean
to sound cruel or unsympathetic, but when reality backs into
your driveway, there it is. I mean, you can try
to ignore it, wish it away.
Speaker 1 (14:38):
It really is.
Speaker 2 (14:39):
Being a guy who sells horses for transportation in nineteen
ten or whatever and sing. Some people say fewer people
are going to want to buy horses for transportation.
Speaker 1 (14:48):
Yes, yes, this is true. What going to be done
about it?
Speaker 2 (14:52):
Nothing? Our mode of transportation has changed, the airing to
fix cars. I don't know if that's hard for people
to grasp or what. Yeah, making of driving, we're into
the holiday season. I often a rent a vehicle this
time of year, usually because I do a one way
trip back to Kansas and then I drive there. We
(15:13):
like road trips, me and the boys, and then I
fly back. I've had quite the struggle in recent years
of I rent a vehicle ahead of time, make sure
I've rent good and ahead of time. And then I
get there to pick it up and they ain't got it.
And then I'm in the holiday crunch with all kinds
of plans and no vehicles available because it's like two
(15:35):
days before Thanksgiving or week before Christmas or whatever.
Speaker 1 (15:38):
The situation.
Speaker 2 (15:39):
Not the wrong vehicle, no vehicle, Well, they don't have
the vehicle I want.
Speaker 1 (15:43):
They have all kinds of vehicles.
Speaker 2 (15:44):
I'm not going to drive me intwo like practically adults
halfway across the country and right, and you.
Speaker 1 (15:51):
Just can't do it.
Speaker 2 (15:52):
So I was asked, I did some research yesterday because
I was trying to avoid that this year. I got
so mad last year when I was there. You remember
I told this story on the air. I started very calm,
but I couldn't get any reaction out of the person
who worked there. And it kind of hurts that they
reacted this way. It really hurts my feelings that they
were was the way that we were thinking. But I
kept saying, do you understand my problem?
Speaker 7 (16:13):
Though?
Speaker 1 (16:13):
Right? I have a reservation.
Speaker 2 (16:15):
I mean it's the classic Jerry Seinfeld bit. You know
how to you know, reserve the car and they just
like looked at me blank face, like they couldn't understand
why I was unhappy with the fact that I'd had
a reservation for a month and then I get there
and you don't have the vehicle.
Speaker 1 (16:34):
You don't see that as a problem anyway.
Speaker 2 (16:36):
So I spend a lot of time researching this on
groc and chat, bet, chat, GPT, and they want all
the different websites, and they basically said, this is a
problem that happens to people all across the country. There's
not much you can do about it. Here are the things.
You should rent vehicles from two different companies. Hopefully if
you have a backup then one of them will come through,
or you know, a variety of other things.
Speaker 1 (16:55):
But there was no there's no getting around it.
Speaker 2 (16:57):
It's just the thing that happens the way our way
the businesses are currently set up. They just like airlines,
they overbook flights. They over sell cars with the idea
of a we want to have as many of them
get paid for during the holiday season as possible, So
we overbook knowing that a lot of people are going
to cancel and change plans. And then if it turns
out that a whole bunch of people don't change their plans. Well,
(17:20):
we've got more people wanting these vehicles than the vehicles
that exist.
Speaker 1 (17:23):
So sorry, screw you. You're out of luck.
Speaker 4 (17:26):
You're not going home for Christmas or whatever the problem is.
And I'm sure they all glance around at each other.
It's not collusion, but they're aware. Okay, they're abusing people
in the same way over there and over there and
over there. Okay, so we can keep abusing people. Where
are you going to go to the other place there
at the airport that's going to abuse you in the
same way.
Speaker 2 (17:42):
Right, And that's something that that's the current system where
it doesn't matter how early you make your reservation, you
still might show up there when you need it. If
it's a busy weekend and they just ain't going to
have a car for.
Speaker 4 (17:51):
You, oh well you put the rental agent in a headlock.
Not sure it would help, but it would make you
feel better. I was close, I was really close. My
son didn't test to that. They were thinking, I don't care,
pretending I'm an hourly employee.
Speaker 1 (18:07):
I don't care. It's not much effort to pretend to care.
Speaker 2 (18:10):
Okay, we got more on the way if you know
anything about that text line four one five five KFTC.
Speaker 1 (18:16):
Armstrong and Getty Christ, then when did you get this information?
Speaker 5 (18:22):
We actually just received all of these emails are total
of about twenty three thousand documents actually a few days ago,
so last week, and we've been going through our team,
of course, through all of these very carefully over the
last few days.
Speaker 1 (18:34):
We obviously released some today.
Speaker 5 (18:36):
We'll be releasing additional documents I'm likely later today.
Speaker 2 (18:40):
Okay, we're talking about Epstein here. Oh so forty eight
hours ago when the whole impasse over the shutdown thing broke,
I flip on MSNBC at night. They're eleven o'clock show,
because on the West Coast as to a eight o'clock
and the first thing they talk about is Epstein. I thought,
(19:03):
what I mean, that was so off my radar. I
don't know if I thought I'd ever hear the word
again in my life. I just thought that was completely
last year whatever. And they were actually talking about them,
and the three panelists on there all reporters Epstein, this Epstein,
that this is why the Republicans shut down the government
for so long, and now the Epstein vote's gone.
Speaker 1 (19:24):
What Epstein.
Speaker 2 (19:26):
I turned on Morning Joe this morning on MSNBC. I mean,
because that's a good place to go to for what
Democrats are thinking, that show talking about Epstein. And now
you got this Democratic Representative Robert Garcia, who was on
probably on MSNBC saying they've received twenty three thousand documents
(19:47):
in the last couple of days and they're going through
there very carefully.
Speaker 1 (19:52):
He says there is a massive cover up going on.
Speaker 2 (20:00):
So as Byron York writes in the Washington Examiner, Okay,
you've given us a couple of nuggets, which weren't much
from these documents. Like Trump was angry that Epstein was
poaching his people, poaching girls from his spa. That wasn't
new news. And even if even if it were, what's
(20:20):
the significance of that?
Speaker 1 (20:22):
There is an email quote from Epstein, go ahead, you've
got the lift.
Speaker 2 (20:25):
There's well, there's a claim that Epstein knew that there
were girls there and whatever Trump but butru that Trump knew,
But it's vague and it doesn't even if it's true,
what what does that was Trumps supposed to go to
the cops or I don't know what even the point
is of that, and as Byron new York writes Washington Examiner, Okay,
(20:47):
that's three things you've mentioned. What are the other twenty
three thousand documents? That's a lot of documents, right, That's
a heck of a thing to.
Speaker 1 (20:57):
Go on TV.
Speaker 2 (20:57):
Say we have twenty three thousand new documents about what?
Speaker 1 (21:04):
From who? What is it? A? Two are completely irrelevant?
Speaker 4 (21:09):
Where to look at them? Twenty three thousands? Look at
the stack of documents? Where did they come from? If
you had any dirt on Trump about Epstein, you would
have used it when Joe Biden and Kamala Harris were
running against him, wouldn't you. Well, where'd they get these
twenty three thousand new documents?
Speaker 1 (21:26):
Doesn't say? What's that all about? Don't know?
Speaker 2 (21:28):
But so if you thought Epstein was over, it ain't.
Speaker 1 (21:33):
Well. I tell you what.
Speaker 4 (21:33):
If they get to the bottom of this Epstein thing,
holmes will become affordable, You will be fully employed in
a career that you find rewarding, Your kids will get
quality education in schools, and we won't ever go to
war with China. So I certainly hope we can get
to the bottom of this stupid, stupid Epstein thing.
Speaker 2 (21:51):
We'll be releasing additional documents later Today, he says, if
my experience with this sort of thing in life is
you lead with your.
Speaker 1 (21:59):
Best stuff, right. Yeah. Well, and if say, fifteen eighteen.
Speaker 4 (22:06):
Years ago, rich Donald Trump in West Palm Beach or
whatever it is, became aware that his rich neighbor was
a bit of a perv and maybe even had a
taste for like underage girls, that's what I hear.
Speaker 1 (22:22):
What was twenty twelve Donald Trump's supposed to do about it?
That's what I said.
Speaker 4 (22:28):
I mean, if there was like child rape going on
and he had specific information about it, of course you
got to call.
Speaker 1 (22:33):
The co of course.
Speaker 4 (22:35):
But if he just hears at the country club, oh yeah,
you know Epstein like I'm young, if you know what
I mean?
Speaker 2 (22:41):
Yeah, what are you supposed to do in that situation?
And well, there's always kind of the suggestion that Donald
Trump was having sex with underage girls through his connection
with Epstein. There's never been anything without one hundred miles
of that, yeah, proven even kind of So I don't know,
(23:02):
I can't believe this is still hanging around as a story,
different Donald Trump story that I am kind of interested.
Speaker 4 (23:06):
Well, if I had just screwed the country at least
to some extent on this phony shutdown to protect Chuck
Schumer's left flank. I'd want to change the headlines too.
I'd be pretty desperate. That's pretty good theory that that's
what it is. Why now all of a sudden out
of nowhere, please, I never heard that said one time
(23:31):
during the shutdown? Did you that the Republicans are just
doing this to keep the Ebstein files from coming out?
Speaker 2 (23:36):
I never heard that until the Democrats caved. I'd never
heard anybody say that. Yeah, yeah, And I'll watch a
lot of MSNBC to see what they're up to. They
weren't making that argument.
Speaker 1 (23:48):
We're desperate, we're desperate. What do we do? I don't know,
can retire Depstein somehow?
Speaker 2 (23:52):
How the hell would we do that?
Speaker 1 (23:53):
Wait? I have an idea differ Trump thing. He did
an interview with blonde Chick Fox. There are quite a
few of them.
Speaker 2 (24:03):
Well, that was a vague statement, wasn't a blonde chick
on Fox? Lor Ingram And we had a bunch of
clips we didn't play yesterday. But one of the things
he floated out there was a fifty year mortgage loan
to try to help get more people into homes. This
stat has been flying around for a week now because
it hit forty. People like round numbers, and when it
(24:24):
hit forty for the median age for someone to be
a first time home buyer, it got a lot of
people's attention, given the fact that it was twenty nine.
If you go back to nineteen eighty, so in your
twenties barely and now forty is sounds like a bigger
difference in eleven years, but it's still it is quite
(24:45):
a change in the structure of home buying. And Trump
floated the idea of a fifty year mortgage. So my
first reaction to hearing that was that's a horrible idea,
and God, I hope it doesn't happen, kind of like
around the lines of I know people buying cars with seven, eight,
nine year loans, the biggest difference between the two things
(25:08):
being that in general, homes go up in value over
that amount of time and cars nine years from now
you're curring word.
Speaker 1 (25:14):
Nothing and you just paid it off.
Speaker 2 (25:16):
But I don't know anything about the history of where
did we come up with the twenty and thirty year mortgage?
What was that built around? Why is there any reason
why thirty's okay, but fifty isn't.
Speaker 4 (25:30):
Yeah, Well, the twenty eight housing melt down spurred the
government to limit mortgage terms to thirty years, because you
just you get equity so slowly, you pay so much
in interest more than a thirty year loan, and it
lowers your payment by a couple of hundred bucks typically,
(25:51):
but it's not a ton. And so many folks walked
away from their mortgages when home prices collapsed, and they've
just found through the years the reason they reined it
in is longer the loan, the more likely people are default.
It's just a much risky loan, which means it's a
higher rate, so you're paying even a higher percentage of
(26:12):
your house payment to interest than you would be. When
the solution is that's not the solution. That is a
makes the problem worse, band A. The solution is a deregulation,
wholesale deregulation of this silly stuff that keeps housing from
being built. Who was it estimated We've got a deficit
of like five million housing units in the country at
(26:34):
this point, and part of it was the artificially low
mortgage rates. People are stuck in their homes.
Speaker 1 (26:40):
Blah blah blah. We've talked about it many times, but no,
this is a bad idea. Don't do it. Well.
Speaker 2 (26:44):
The idea, well, the smart idea would be, you can
get into a home when you're quite young because the
payment's lower with a fifty year mortgage, and then when
you get into your years where you're really earning money, well,
then you refy it shorter, pay it down or whatever.
You don't actually pay the full fifty years van of
interest over the damn fom.
Speaker 1 (27:06):
Yeah.
Speaker 2 (27:07):
Yeah, but if it's much more likely people are going
to default who take those long loans.
Speaker 1 (27:12):
Though, any good listen to this, would you? As long
as we're talking about it.
Speaker 4 (27:16):
Nearly seventy percent of New FAHA borrowers last year had
debt to income ratios exceeding forty three percent, which is
considered risky. That's nearly seventy percent. You twenty with that number. Well,
that's up from twenty eight percent thirteen years ago. It's
now seventy percent. About forty percent a new Fanny May
(27:37):
and Freddie macburrows last year had risky debt to income ratios.
That's forty percent compared to sixteen percent back in twenty twelve.
Recent buyers are more leveraged than they were in bubble days.
Stretched by inflation, rising property taxes, and insurance costs, many
have been struggling to meet mortgage payments. No Worries, writes
the Journal. The Biden administration paid mortgage servicers to prevent closures.
(28:00):
This included letting delinquent borrowers extend their loan terms to
forty years and reduced monthly payments by twenty five percent.
Repeatedly miss your mortgage payments, Congratulations, you qualify for mortgage relief.
Talk about a moral hazard. The FAHA has paid mortgage
servicers to provide forbearance or modify some six hundred and
ten thousand FAHA mortgages in the last year.
Speaker 1 (28:21):
Well.
Speaker 2 (28:21):
I like the fact that's more than the number of
new purchases loans that FAHA ensured last year.
Speaker 1 (28:29):
Yikes.
Speaker 2 (28:29):
I like the fact that if you miss your mortgage
payment enough times, you qualify for somebody else's money to
pay for your mortgage, with no question as to why
are you not making your mortgage, what do you spend?
You spend your money on anything else? Or maybe you
shouldn't be in that, Maybe you can't afford to be
in the house you're in or something like that.
Speaker 1 (28:49):
But no, you automatically.
Speaker 2 (28:51):
It's just the facto true that if you missed a
couple of payments, you can't afford it and you need help.
Speaker 4 (28:57):
And keep in mind, now the FAHA your tax finances
all of this. So writing down mortgages for distress borrowers
is a booming business for mortgage bankers. They're getting the
tax dollars, but keeping people in homes they can't afford
means there are fewer available to buy, which makes housing
less affordable for everyone else. That's what a fifty year
mortgage will do.
Speaker 2 (29:19):
I was listening to a discussion this morning by people
who did not know what they were talking about. I
won't mention much channel, but they were talking about. They
were presenting it's such a good idea, the fifty year loan,
so you can get people out of renting, so.
Speaker 1 (29:32):
You don't rent all those years and everything like that when.
Speaker 2 (29:36):
I'm a renter currently, and what started me even thinking
about it was the Wall Street Journal having an article
that for the first time ever, there might be a
better idea to rent than to own, and it laid
out various situations you might be in where that that's
the case. It's just not automatically true, at least currently,
that buying a house is better than renting correct.
Speaker 4 (29:55):
Yeah, yeah, and it's far more expensive than people imagine
it's going to be. I think virtually everybody listening who's
ever owned a home is saying, yeah, no kidding. You know,
by the time you know, taxes and insurance and upkeeping
repairs and you know, just maintenance. I guess upkeeping maintenance
are the same thing. Anyway, there are way more costs
than you imagined before you become a homeowner.
Speaker 2 (30:18):
Yeah, where if that'll change? Fifty year loan? Wow, I
wouldn't you be surprised if that doesn't happen. I mean,
if we got to nine year car loans out there,
fifty year my home loan doesn't seem that nuts.
Speaker 4 (30:37):
If it is a bad idea that sounds good when
you first hear it, yes, it will pass.
Speaker 2 (30:42):
It will become the law, right right right, Anything that
sounds good at first, blush will happen.
Speaker 1 (30:48):
That's okay, give exactly.
Speaker 2 (30:51):
We'll keep your eye on this stupid, stupid, freaking Epstein
story and maybe not talk about it at all. Unless
something happens more on the way stare. I want to
talk about the decay of American culture, which has been
going on for half a century. Might put that in
a one More Thing podcast, also our four. I am
(31:13):
pro social credit score as long as the government's not involved.
Speaker 1 (31:17):
Interesting, I got a new example of it. We can
talk about next hour. Interesting.
Speaker 4 (31:23):
I'm surprised to hear that also coming up next hour.
The whole online influencer pandering thing. It's worse than I thought.
Understanding how it works helps you understand well why it
got so bad. So if you can't stay tuned for
our four, or perhaps you don't get our four, grab
it via podcast Armstrong and Getty on demand. You really
ought to follow us and subscribe. And oh you know,
(31:44):
we never ever asked this. Give us a nice five
star review, would you please? It helps the algorithms kind
of push the show. Speaking of algorithms, anyway, I've fallen
in love with a man, at least intellectually speaking.
Speaker 1 (31:57):
I was attracted to this.
Speaker 4 (31:58):
Story about Abraham Avy is his nickname av Lobe, who
is was for a decade Harvard's share of the Astronomy Department.
He was the founding director of the Harvard Black Hole Initiative,
and he continues to teach it to school and holds
(32:18):
amazing titles in you know, the theory and computation in
astrophysics and stuff like that. And he's his attention has
gotten to a space oddity called three Eye Slash Atlas.
It is only the third object from outside our Solar
(32:39):
system that humanity has ever detected, and the vast majority
of astronomers are convinced that it's simply a large comet
that poses no threat to Earth.
Speaker 1 (32:47):
Lobe.
Speaker 4 (32:48):
However, is unconvinced by this explanation. He has laid out
all the ways Atlas is not behaving like a comet.
It has a very unusual trajectory which happens to be
a perfect tour of our nearby planets. It has very
strange coloring, and the way it appears to move, it
moves like it has an internal engine of some kind.
Speaker 2 (33:11):
You're suggesting spaceship from an alien planet.
Speaker 4 (33:17):
So the clear mister Loebees said is not saying this
is an extraterrestrial vehicle. He is, however, open to the
possibility that it could be. So he's tracking Atlas very
closely on his blog and looking at images every day.
Speaker 1 (33:31):
Blah blah blah.
Speaker 4 (33:33):
So that's fun. Is there an alien craft that's moving
in our direction? Harvard astronomy professor says, perhaps that's fun.
I got to say, But then I get to the
part that I really loved. The guy asks him, can
you explain this? Think of me as a precocious middle schooler,
because I'm not an expert, And his reply is one
of the best things I've ever read. He said, actually,
(33:55):
being young in the way you view things as a
great advantage, because science is the privilege of maintaining your
childhood curiosity.
Speaker 1 (34:02):
Ah.
Speaker 4 (34:04):
Now, unfortunately, he says, most practitioners abandon it because they
have other motivations. They want to show off to gain
status that helps them get funded or get awards and honors.
And that's what you know, That's what happens to most
people in academia, which is very unfortunate because we have this.
Speaker 1 (34:20):
Gift of being paid to stay curious.
Speaker 4 (34:23):
And he goes on about what a wonderful gift that
was and how it makes him sad when people insist that.
Speaker 6 (34:31):
Science is fixed. This is what science says, and you
shouldn't question it.
Speaker 4 (34:36):
He's totally against that it was beautifully said.
Speaker 2 (34:41):
Yeah, I love it when you hear super smart people
say very basic, childlike things.
Speaker 1 (34:47):
Yeah like that.
Speaker 2 (34:48):
It's like the Fermi paradox or Fermi principle or whatever
it's called from that famous astrophysicist dude from way back
in the day who said, well where is everybody?
Speaker 6 (34:58):
Then?
Speaker 2 (34:59):
If there's a and other planets or life in other
parts of the universe, or where has everybody been?
Speaker 1 (35:04):
So how come nobody's ever contacted?
Speaker 4 (35:06):
Is?
Speaker 1 (35:07):
Yeah?
Speaker 4 (35:08):
Yeah, I love that though. And look, I was not
going for outrage this segment, But how different is that
from I represent science and people getting canceled online for
questioning quote unquote science.
Speaker 1 (35:21):
Love this guy's attitude.
Speaker 2 (35:24):
I do want to talk about the social credit score,
this idea that some people are bothered by this.
Speaker 1 (35:28):
I think it's awesome.
Speaker 2 (35:29):
Like open table, if you've ever used that for making
reservations for a restaurant or something like that is keeping
track of people who like don't show or show up later, whatever,
and then they're putting a score on that, and then
restaurants see that, and then they're either more or less
likely to give you a reservation based on that.
Speaker 1 (35:47):
I have no problem with that. Whatsoever.
Speaker 2 (35:49):
It's kind of like the best buy Costco. Oh, you're
the kind of person that buys something in the returns
it like two times a year versus you've never done
that before, so sure we'll let you return something for
your money back.
Speaker 4 (36:01):
Airbnb is super big on everybody gets a review and
providers as long as.
Speaker 2 (36:07):
The government's not involved in any way, like they're doing
in China. I think the social credit score thing seems
like a really good idea, interesting and I don't know
how you'd stop a private company from doing it anyway,
it's in their best interest.
Speaker 1 (36:18):
Yeah, yeah, that's a good discussion. Anyway. We do a
lot of hours.
Speaker 2 (36:22):
If you miss one, get the podcast Armstrong and Getty
on demand.
Speaker 6 (36:25):
You should subscribe Armstrong and Getty
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Jack Armstrong
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